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Market Commentary - Foreign Markets
Chinese stocks stay well supported
07-Feb-2025, 06:02
Chinese stocks stayed well supported today as investors awaited U.S. President Donald Trump's next move on trade curbs ahead of China's tariff deadline next week. China's Shanghai Composite index spiked 1.01 percent to 3,303.67 and Hong Kong's Hang Seng index rose 1.16 percent to 21,133.54, with technology stocks rising the most. Traders also looked ahead to the release of the monthly U.S. jobs report as well as preliminary readings on consumer sentiment and inflation expectations in February for clues regarding the Federal Reserve's next interest rate decision this year.
Chinese stocks stayed well supported today as investors awaited U.S. President Donald Trump's next move on trade curbs ahead of China's tariff deadline next week. China's Shanghai Composite index spiked 1.01 percent to 3,303.67 and Hong Kong's Hang Seng index rose 1.16 percent to 21,133.54, with technology stocks rising the most. Traders also looked ahead to the release of the monthly U.S. jobs report as well as preliminary readings on consumer sentiment and inflation expectations in February for clues regarding the Federal Reserve's next interest rate decision this year.
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